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Broomfield, Colo. – Renewable Energy Systems (RES), a leader in the development, engineering, and construction of wind, solar, transmission, and energy storage projects in the Americas, is pleased to announce it will design and construct the 50 megaw…

Broomfield, Colo. – Renewable Energy Systems (RES), a leader in the development, engineering, and construction of wind, solar, transmission, and energy storage projects in the Americas, is pleased to announce it will design and construct the 50 megawatt (MWac) Project Ivory Solar Facility, formerly known as Lamesa II, located in Dawson County, Texas. RES recently sold the project to OCI Solar Power, a subsidiary of OCI Company LTD. OCI executed a 25-year power purchase agreement with CPS Energy.

BNB Renewable Energy Holdings,began working with landowners, local officials and community leaders in late 2013, and in mid-2015 entered into a joint development agreement with RES to complete the project. RES is committed to creating and maintaining lasting relationships with the communities in which we work. RES is passionate about creating mutually beneficial opportunities and in this case, the county, hospital and school have each entered into tax incentive agreements supporting the project. RES will use local resources wherever possible and is committed to hiring qualified local workers.

The project, which will comprise 197,000 photovoltaic panels, will generate enough electricity to power the energy needs of approximately 35,000 U.S. homes through Oncor Electric Delivery. Construction will start in March 2018, with expected commercial operation by November 2018. The project will employ approximately 150 workers during peak construction, will have up to three full-time O&M jobs, and will operate for more than 25 years.

“This project is our fifth solar project in Texas, having already constructed more than 180 MW in the state,” said Chad Horton, VP, RES Development, Americas. “We look forward to working with BNB and OCI Solar Power to bring more solar energy online in Texas. RES has been committed to bringing jobs, economic benefits, and renewable energy to the state, having developed and or constructed more than 3,100 MW of projects to date.”

“On behalf of BNB and its partners, I thank all of the people in the community that helped us succeed " said Orlando Puig of BNB Renewable Energy.

“OCI Solar Power is excited to be the developer for Project Ivory, a 50 MW solar array to be built in Dawson County. We have already developed 450 MW of the 950 MW of solar installed in the ERCOT market, and this project will be our ninth large-scale solar project in Texas,” said Charles Kim, President and CEO. “Working alongside RES and BNB, we’ll be able to create an array that provides thousands of more households with reliable, renewable, and more affordable energy.”

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About RES

Since 1997, RES has been providing development, engineering, construction, and operations services to the utility-scale wind, solar, transmission, and energy storage markets across the Americas. The company employs more than 1,500 full-time professionals; has over 10,000 MW of utility-scale renewable energy and energy storage projects; and HAS constructed more than 1,000 miles of transmissions lines throughout North America. RES’ corporate office in the U.S. is located in Broomfield, CO with regional offices located in Austin, TX, Minneapolis, MN, Old Saybrook, CT, and Sacramento and San Francisco, CA.

RES has developed and/or built over 13 GW of renewable energy capacity worldwide, has an asset management portfolio exceeding 2 GW, and is active in a range of renewable technologies including onshore wind, solar, energy storage, and transmission. For more information, visit www.res-group.com.

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About BNB Renewable Energy Holdings

BNB Renewable Energy Holdings, with offices in New York City, Boston, Austin, and Exton, Pa., has developed and constructed nearly 500MW of commercial- and utility-scale wind, solar and biogas power plants throughout the United States, with an additional 1GW under active development in the U.S., Mexico and South America. The company has worked with Fortune 500 companies like Campbell Soup and Mars Inc. to incorporate renewable sources into their energy mix. For more information, visit www.bnbrenewables.com.

About OCI Solar Power LLC

OCI Solar Power is a leader in the solar power industry, having developed almost half (450 MW) of the 950 MW installed in the ERCOT market. Headquartered in San Antonio, Texas, OCI Solar Power develops, constructs, finances, owns, and operates solar photovoltaic (PV) facilities, specializing in utility-scale and distributed generation solar projects across the U.S.

Broomfield, CO —Renewable Energy Systems (RES), a leader in the development, construction, and operation of solar, energy storage, wind, and transmission projects across the globe, is pleased to announce that it has completed construction of the Penitente Solar Project, a 3 MW installation in Saguache County providing power to the San Luis Valley Rural Electric Cooperative (SLVREC). RES developed, constructed, and will operate and maintain the distributed solar photovoltaic system in South Central Colorado. AEP OnSite Partners owns the solar installation and provides the output to SLVREC through a long-term contract. SLVREC is the second-oldest electric cooperative in Colorado and is headquartered in Monte Vista, CO.

Penitente Solar is a ground-mounted project equipped with a single-axis tracking system and is in-service. SLVREC purchased the output from the facility to serve customers residing in its service territory, which includes Saguache, Rio Grande, Costilla, Alamosa, Conejos, Mineral and Hinsdale Counties. The expected operational lifetime of the project is over 25 years.

“Penitente Solar is the latest example of RES building strong relationships with co-ops across the country to develop, construct, and operate local renewable power for rural areas,” stated Tom Duckett, President of RES Distributed. “RES is pleased to have partnered with SLVREC to make available the benefits of reliable, sustainable renewable energy for their members.”

“SLVREC has investigated the development of a solar project for several years and after an extensive evaluation, selected RES to develop and construct SLVREC’s first solar project — Penitente Solar. Penitente Solar provides SLVREC members access to renewable energy which is locally generated and cost effective. We look forward to continuing to develop local renewable projects benefitting our members and our communities in the San Luis Valley,” stated Loren Howard, CEO of SLVREC. “We will continue to invest in these types of projects along with projects like Ciello powered by REC to help foster economic growth and development. We are here to help create a thriving environment to work, live and play.”

RES has constructed over 370 MW of renewable energy projects in Colorado. RES’ distributed team creates solutions tailored for each customer, providing controllable, competitive, and predictable power that customer’s require in today’s economy.

RES Australia has signed a long term corporate power purchase agreement with Telstra, Australia's largest telecommunications and media company. This will support the development of a recently consented 70 megawatt (MW) solar farm on a single 160ha si…

RES Australia has signed a long term corporate power purchase agreement with Telstra, Australia's largest telecommunications and media company. This will support the development of a recently consented 70 megawatt (MW) solar farm on a single 160ha site near Emerald in Queensland, Australia. The project will start construction later this year and is expected to be operational in the second half of 2018, delivering enough renewable generation to power up to 35,000 homes.

The RES Australia team has been able to draw upon RES’ global market-leading expertise in securing offtake agreements with global leaders such as General Motors, Google and Microsoft.

Under this new agreement Telstra will benefit from long term energy security to mitigate the risk of energy price volatility in its position as one of the country’s largest energy users.

Telstra’s involvement was critical in underwriting the project, worth around $100 million, as an important addition to Australia’s supply of renewable energy and extending RES’s portfolio of solar, wind and battery storage assets in the country.

Marco Perona, RES Australia’s CEO, said "Corporate PPAs are particularly well suited to the Australian energy market dynamics so I would like to commend Telstra for taking the corporate initiative to lead the market. We look forward to delivering this project in partnership with them."

"I am delighted we have been able to apply our global experience in long term power purchase agreements to tailor a deal around Telstra’s requirements. We are looking forward to working with the local community in Emerald to realise the jobs and economic opportunities this project will create in regional Queensland," said Mr Rebbeck, RES Australia’s Chief Operating Officer.

Central Highlands Regional Council Mayor Kerry Hayes also welcomed the announcement. "I’m delighted that RES Australia as chosen Emerald for its investment," he said. "This region is perfect for renewable energy projects and we’re looking forward to working with the company to facilitate local contracts as the site develops."

Ben Burge, Executive Director of Telstra Energy, said the agreement was an important step in enabling Telstra to more actively manage energy consumption and costs, whilst also contributing to reducing emissions and stimulating investment in regional Australia.

The Australian market for corporate PPAs is poised for significant growth due to rapidly accelerating electricity and gas prices. RES is well placed to capitalise on the opportunity with a significant pipeline of solar projects across key States, alongside a high quality wind farm development portfolio, a market leading energy storage offer and renewable generation Asset Management services for investors.